DA Davidson Forecasts Strong Price Appreciation for Knife River (NYSE:KNF) Stock

Knife River (NYSE:KNF) had its price target hoisted by DA Davidson from $90.00 to $110.00 in a research note released on Wednesday, Benzinga reports. The brokerage currently has a buy rating on the stock.

Other equities analysts have also recently issued reports about the stock. Oppenheimer boosted their price target on shares of Knife River from $85.00 to $110.00 and gave the company an “outperform” rating in a report on Monday, October 21st. Loop Capital lowered their price target on shares of Knife River from $105.00 to $100.00 and set a “buy” rating on the stock in a report on Tuesday. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $93.67.

Knife River Stock Down 2.0 %

NYSE:KNF traded down $2.03 during trading hours on Wednesday, hitting $98.50. 35,431 shares of the stock traded hands, compared to its average volume of 383,450. The firm has a 50 day moving average price of $88.14 and a 200 day moving average price of $79.03. The company has a current ratio of 2.72, a quick ratio of 1.49 and a debt-to-equity ratio of 0.46. Knife River has a fifty-two week low of $54.67 and a fifty-two week high of $103.14. The firm has a market cap of $5.58 billion, a price-to-earnings ratio of 28.81, a PEG ratio of 2.20 and a beta of 0.74.

Knife River (NYSE:KNF) last announced its earnings results on Monday, November 4th. The company reported $2.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.82 by ($0.22). Knife River had a net margin of 6.89% and a return on equity of 15.22%. The firm had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same period last year, the firm earned $2.58 earnings per share. Knife River’s revenue for the quarter was up 1.4% compared to the same quarter last year. Equities research analysts anticipate that Knife River will post 3.68 earnings per share for the current year.

Institutional Investors Weigh In On Knife River

A number of large investors have recently bought and sold shares of the business. Thrivent Financial for Lutherans boosted its holdings in Knife River by 36.7% in the third quarter. Thrivent Financial for Lutherans now owns 78,803 shares of the company’s stock worth $7,045,000 after purchasing an additional 21,142 shares in the last quarter. Chesapeake Capital Corp IL bought a new stake in Knife River during the third quarter valued at about $567,000. RIA Advisory Group LLC bought a new stake in Knife River during the third quarter valued at about $302,000. Royce & Associates LP bought a new stake in Knife River during the third quarter valued at about $1,028,000. Finally, Huntington National Bank boosted its holdings in Knife River by 586.0% during the third quarter. Huntington National Bank now owns 343 shares of the company’s stock valued at $31,000 after acquiring an additional 293 shares during the period. 80.11% of the stock is currently owned by institutional investors.

About Knife River

Knife River Corporation, together with its subsidiaries, provides aggregates- led construction materials and contracting services in the United States. It operates through Pacific, Northwest, Mountain, Central, and Energy Services segments. The company mines, processes, and sells construction aggregates, including crushed stone and sand, and gravel; and produces and sells asphalt and ready-mix concrete.